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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Wyätt Gwyön who wrote (109511)	9/16/2008 2:46:20 PM
From: Salt'n'Peppa	Read Replies (1) of 206220

Wyatt, what you are talking about is being long "gold paper". I am talking about owning physical gold, which has proven itself immune to currency devaluation for over 2000 years. "the reason i dislike gold is that so many people speculate in gold with lots of leverage. this is imo a big reason why gold has done so poorly during the past couple months of financial meltdown..." Physical gold is not doing too badly actually. Ignoring the very brief spike to $1000/oz, it is still hovering around $800 despite the best efforts of the Fed et. al. to interfere. Gold is almost quadruple where it was in 2001. People can go long (speculate) in gold ETFs on margin all they want. They don't hold the physical stuff and are thus also at risk, as you point out. Physical gold - the way forward. S&P

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